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Scott L. Goldberg, President of the Consumer Division at CNO Financial Group, Inc. (NYSE:CNO), recently executed a series of stock transactions. The company’s stock has shown remarkable strength, delivering a 54.87% return over the past year while trading at an attractive P/E ratio of 10.49. On March 4 and March 6, Goldberg sold a total of 51,000 shares of CNO Financial, generating approximately $2.04 million. The shares were sold at prices ranging from $40.0225 to $40.1067 per share, near the stock’s 52-week high of $42.41. According to InvestingPro, which offers comprehensive insider trading analysis among its 8+ key insights, CNO’s management has been actively buying back shares, demonstrating confidence in the company’s value.
These sales were part of transactions under a Rule 10b5-1 trading plan, which Goldberg adopted on November 7, 2024. Prior to the sales, Goldberg exercised options to acquire 51,000 shares at a price of $17.38 each, totaling approximately $886,380. Following these transactions, Goldberg’s direct holdings in the company amount to 169,342 shares. The company has maintained consistent dividend payments for 14 consecutive years, with a current dividend yield of 1.57%.
In other recent news, CNO Financial Group reported impressive quarterly results, exceeding expectations with strong performance across its segments. The company achieved significant top-line growth due to an increase in agent numbers, the introduction of new products, and geographic expansion. Additionally, CNO Financial experienced a rise in net investment income, supported by higher new money yields and increased invested asset balances. RBC Capital Markets responded by raising CNO Financial’s price target from $40 to $45, maintaining an Outperform rating due to the company’s successful year-end performance and proactive capital return strategies.
Furthermore, CNO Financial’s subsidiary, Optavise, launched Optavise Clear, a new service designed to simplify the employee benefits experience. This service aims to enhance employee satisfaction by providing personalized guidance and year-round support for benefits education and enrollment. The introduction of Optavise Clear reflects the company’s commitment to addressing the educational gap in employee benefits management. These developments indicate CNO Financial’s strategic focus on growth and innovation in both its financial and worksite divisions.
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